The US auto industry is coming apart at the seams, says Eric Roseman. The ‘Big Three’ are bleeding profusely, and face bankruptcy without a government rescue. If one of General Motors (NYSE:GM), Ford (NYSE:F) and Chrysler is allowed to fail, Eric says the stock market will crash through its 2002 lows. This means investors should stay underweight stocks for the time being.

The U.S. government is looking for ways to facilitate a merger between General Motors Corp. (GM) and Chrysler LLC, in the hopes of keeping the once vibrant industry afloat during a time of crisis. But Uncle Sam’s credit card is close to maxed out and a bailout for the auto industry could open the door for other troubled industries to come calling.

Embattled carmaker General Motors Corp. (GM) is planning thousands of additional white-collar job cuts and mulling over the sale off some of its brands, sources told the Wall Street Journal.

WTO’s Global Trade Deal; Ford’s Lowered Expectations; Surprise Decline in Jobless Claims; Oil Drags on Hang Seng; Wider Loss for B&N; Big Oil Spends $1.3 Million in 1Q Lobbying; Bill Miller Joins Ichan in Pressuring Yahoo; IEA to Probe World’s Oil Supply; Medtronic Coughs Up $75 Million to Settle Suit.

With earnings season starting to wind down, investors are not anticipating many new surprises.

Money Morning Investment Director Keith Fitz-Gerald is currently leading an investment trip through China, taking in that country’s scenery, as well as its investment opportunities.

Sohu Soars on 156% Jump in Revenue; Price of Crude Can’t be Contained; Kerkorian Riding Shotgun at Ford; Verizon Gets a Boost From Wireless Business; Visa Profit Up 28%; BoA to Modify $40 Billion in Loans; Corn Continues to Grow in Price; Questar’s Piping Hot Earnings Report.

Ford Motor Co. (F) surprised analysts with a $100 million in first-quarter profit, or 5 cents a share – the result of increased sales overseas and 4,200 job cuts in North America.